54ED
In forceNotice to Minister about insolvency or contravention
Part 5APrescribed residential building work - consumer protection
Division 5Auditors and actuaries of approved scheme
54ED Notice to Minister about insolvency or contravention
(1)
This section applies if the auditor or actuary for an approved scheme forms the belief that:
(a)
the scheme is insolvent, or there is a significant risk that it will become insolvent; or
(b)
the trustees have contravened this Act or another law in force in the Territory in relation to the scheme.
(2)
The auditor or actuary must give the Minister written notice about the matter within 7 days after the day on which the belief is formed.
Maximum penalty: 100 penalty units.
This Act’s bill:Second reading speech
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.